A recent study by the Commonfund Institute found endowments held by foundations and nonprofits grew by an average of 21 percent last fiscal year. While it is certainly great news, keep in mind that this gain does not make up for the sharp declines of 2008. Those declines averaged 26-percent in 2008.
Even though they made back some of the losses, many foundations and charities cut back further on giving and spending. Fifty-five percent of community foundations,gave less in 2009, while only 16 percent said they gave more.
The Community Foundation of Utah gave more - but this was our first year of giving!
